Canaccord “Expecting resilience despite macro concerns,” Canaccord Genuity's Mr. Hannan also cut his Spin Master Corp. target to $62 from $67 with a “buy” rating prior to its Nov. 2 earnings release. The average is $62.10.
“Given (1) Spin Master’s ability to create coveted toy brands and verticals, (2) higher contributions from the margin-accretive Digital Games segment, and (3) the potential for the company to undertake accretive acquisitions with the net cash on its balance sheet, we believe the shares are undervalued at current levels,” said Mr. Hannan.